Loop Telecom has begun the process of exiting the Indian telecom sector.
As per the Supreme Court?s verdict in the 2G case, the operator faces cancellation of 21 licences.
Thereafter, the operator issued a statement saying that was not involved with, and did not benefit from the impugned changes in government policy. It added that it did not sell any equity nor did it profit from grant of license.
Now, the company has announced that it is in the process of shutting down its Indian operations. Prior to this, it had already issued a notice to its users, requesting them to shift operators via mobile number portability.
As per news reports, it has informed its employees of its decision and has begun issuing termination notices.
